Bitcoin was rising after the Federal Reserve downplayed the risk of higher inflation resulting from U.S. tariffs.
Alongside the Fed’s decision to leave interest rates unchanged Wednesday, Fed Chair Jerome Powell said the potential impact of U.S. tariffs on inflation would likely be temporary.
The Fed will probably cut rates in response to signs of weakness in the labor market even if inflation remains around its current level, UBS Global Wealth Management analysts said in note.
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